Web3 (Read, Create and Own) Web3 is the umbrella term for the vision of a new and better internet. In essence, it uses blockchain, cryptocurrencies, and NFT to give power in the form of ownership to users. While Web3 is difficult to give a rigid definition, there are some basic principles that define it.

Web3 is decentralized: instead of being controlled and owned by centralized entities, ownership is shared between developers and users. Web3 is deprived of rights: everyone has equal access to participate in the network, no one is excluded. Web3 supports native payments: it uses cryptocurrencies to spend and send money online, rather than relying on outdated infrastructure of banks and payment processors. Web3 is trustless: it works by using economic mechanisms rather than relying on third parties.

Web3 (Read, Create and Own) Web3 is the umbrella term for the vision of a new and better internet. In essence, it uses blockchain, cryptocurrencies, and NFT to give power in the form of ownership to users. While Web3 is difficult to give a rigid definition, there are some basic principles that define it.

Web3 is decentralized: instead of being controlled and owned by centralized entities, ownership is shared between developers and users. Web3 is deprived of rights: everyone has equal access to participate in the network, no one is excluded. Web3 supports native payments: it uses cryptocurrencies to spend and send money online, rather than relying on outdated infrastructure of banks and payment processors. Web3 is trustless: it works by using economic mechanisms rather than relying on third parties.